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BTC/USD Probes Critical Trend Support

From dailyfx.com

Bitcoin has been stumbling lower since BTC/USD notched a fresh record high above the $60,000-price level earlier this month. The popular cryptocurrency stretched another -2% lower today even in spite of Elon Musk tweeting you can now buy a Tesla with Bitcoin. It appears that BTC/USD price action has been under pressure largely in response to broad-based US Dollar strength. Bitcoin selling pressure over recent sessions has steered BTC/USD lower to test critical trend support. This trendline is extended through the major year-to-date swing lows notched on 27 January and 28 February. {chart} A break of this ascending ... (full story)

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  • Category: Technical Analysis